Bitcoin’s price has tumbled below the critical $98,000 mark, currently trading at $97,800, a 4.15% drop in the past 24 hours.
Aqua Ad Server Asynchronous JS Tag – Generated with Revive Adserver v5.5.2
The decline has brought Bitcoin’s market cap to $1.93 trillion, with a 24-hour trading volume of $52 billion, reflecting heightened market activity amid the downturn. According to Coinglass data, $388.93 million in crypto positions were liquidated in the last 24 hours. Long positions accounted for the majority at $331.23 million, while shorts made up $57.7 million. Bitcoin alone contributed $73.09 million to the liquidations, highlighting its pivotal role in the broader market turbulence.
Aqua Ad Server Asynchronous JS Tag – Generated with Revive Adserver v5.5.2
The 1-day technical analysis from TradingView, however, shows that the bullish sentiment still hasn’t lost its steam. The summary shows “buy” at 14, moving averages point to “strong buy” at 12, while oscillators remain “neutral” at 7.
.dark-mode .read-more {background-color: #343a40 !important;}
READ MORE:
Bold Predictions for Bitcoin and Ethereum for 2025 from Bernstein
Ethereum has also faced sharp losses, trading at $3,460 after shedding 7% in the same period. The second-largest cryptocurrency now holds a market cap of $416 billion, with $26 billion in trading volume over the past day, reflecting increased sell-offs. The overall crypto market has suffered a 4.54% decline, with the total market cap dropping to $3.44 trillion. However, trading activity surged by 24.4%, reaching $142.5 billion, as volatility continues to grip the sector. The downturn signals intensified pressure on the crypto market, with major assets struggling to regain momentum.
Coinzilla Banner 300×250
window.coinzilla_display = window.coinzilla_display || [];
var c_display_preferences = {};
c_display_preferences.zone = “5866829b8f304a7877”;
c_display_preferences.width = “300”;
c_display_preferences.height = “250”;
coinzilla_display.push(c_display_preferences);
